US: Markit Manufacturing PMI matches expectations with 55.6 (final) in September

“September data indicated a strong improvement in operating conditions across the U.S. manufacturing sector,” the IHS Markit said in its latest publication and added: “The seasonally adjusted IHS Markit final U.S. Manufacturing Purchasing Managers’ Index registered 55.6 in September, up from 54.7 in August.”

Key highlights

•  Production across the goods-producing sector rose at an accelerated and sharp rate in September.
• New orders received increased markedly, with the rate of expansion quickening to reach a four-month high.  
• On The rate of input price inflation matched that seen in August, with panellists commonly attributing the increase to tariffs and greater demand for inputs.  
• Employment continued to expand, albeit at the softest pace for 13 months.

Commenting on the data, “US manufacturing showed resilience in the face of storms in September, with output rising at one of the fastest rates seen so far this year. New orders growth has lifted to the highest since May and is being boosted in particular by strong domestic demand, especially in consumer  markets. In contrast, export orders grew only very modestly again,”  Chris Williamson, Chief Business Economist at IHS Markit, said.